are weg pulling their weight?, page-83

i wasnt on line for last nights cameo by Tony, but i his post very helpful.

a no vote is not the end of the world for Cockatoo, however there does seem to be some inference that WEG are going to play a part in the irvine project in securing capital equipment finance and possible end users also. I can only imagine that a similar deal etc that was proposed for shipping etc for irvine has or will be transferred to WEG?

for this project i would hate to see a 50/50 scenario put before shareholders, because as i see it we should have cashflow, connections and hopefully a stonger shareprice should a capital raising be required.

either way us retail holders are now (or soon to be) the minor partners in cockatoo. WEG gets 50%, plus 20% of the other 50% equalling about 60%.

i just hope when the day comes to vote on a deal for irvine that we dont all look back on this AGM and rue the day WEG was given half the pot and a board seat. I have a feeling that if WEG/Ms Wang could only provide the connections and prepayment funds for 50% of Cockatoo + 3% sale commission, then there is no reason that this deal will not be proposed again for Irvine.

It makes it hard to have an open conversation about deals, and any other JV partners or funding options when your current JV partner is sitting in the same boardroom. You cant plan for an alternative partner, because they are there to hear everything you say.

anyone have any comments to add/subtract to this?